Cwm LLC Has $158,000 Stock Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Cwm LLC raised its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 65.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,152 shares of the financial services provider’s stock after buying an additional 2,029 shares during the quarter. Cwm LLC’s holdings in First Interstate BancSystem were worth $158,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Creative Planning boosted its position in shares of First Interstate BancSystem by 11.6% in the second quarter. Creative Planning now owns 24,415 shares of the financial services provider’s stock valued at $678,000 after acquiring an additional 2,545 shares during the period. Algert Global LLC bought a new stake in shares of First Interstate BancSystem in the second quarter valued at about $261,000. The Manufacturers Life Insurance Company lifted its stake in shares of First Interstate BancSystem by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock valued at $1,370,000 after buying an additional 598 shares during the period. Dark Forest Capital Management LP increased its stake in First Interstate BancSystem by 28.5% during the second quarter. Dark Forest Capital Management LP now owns 48,166 shares of the financial services provider’s stock valued at $1,338,000 after acquiring an additional 10,669 shares during the period. Finally, AQR Capital Management LLC bought a new position in First Interstate BancSystem during the second quarter valued at about $242,000. 88.71% of the stock is owned by institutional investors.

First Interstate BancSystem Price Performance

Shares of First Interstate BancSystem stock opened at $31.96 on Thursday. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 12.73 and a beta of 0.81. The firm’s 50-day moving average price is $30.36 and its two-hundred day moving average price is $28.55. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92. First Interstate BancSystem, Inc. has a 1-year low of $20.81 and a 1-year high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. The company had revenue of $244.30 million for the quarter, compared to analysts’ expectations of $246.07 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, equities analysts predict that First Interstate BancSystem, Inc. will post 2.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FIBK shares. Stephens reissued an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a report on Thursday, October 10th. Barclays boosted their price target on shares of First Interstate BancSystem from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Piper Sandler reiterated an “overweight” rating and set a $38.00 target price on shares of First Interstate BancSystem in a research report on Monday, August 26th. Keefe, Bruyette & Woods increased their price target on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, DA Davidson lifted their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $33.17.

About First Interstate BancSystem

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.